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Drafting Estate Plans

Hypotheticals raise the problems; sample forms solve them

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  • Product Number: 2040317B00
  • Publication Date: 4/2/2019
  • Edition: 3rd Edition 2014, with 2017 & 2019 Supplements
  • Copyright: © 2019 MCLE, Inc.
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  • Product Description
  • Table of Contents
  • Editors & Authors
  • Product Description

    Product Description

    With its many fact-driven issues, estate planning is perfectly suited to the hypothetical approach you will find in Drafting Estate Plans. A practical power source for your next estate planning drafting challenge, this book sets forth clear, real-life case studies, and then presents the drafting techniques and strategies you can use to tailor an estate plan precisely to your client's situation. The book covers such topics as the estate plan for a young couple with children, grandparents who wish to make bequests to their grandchildren, the married couple with a potentially taxable estate, the client who seeks a plan to perpetuate a family business, and the individual looking at retirement and beyond. The authors were selected for their particular expertise in each of the topic areas—so you gain the very best practices, caveats, tips and seasoned guidance.

    Recent updates:

    • Update: March 2019

      Dear Subscriber:

      Thank you for choosing to keep your copy of Drafting Estate Plans current with this 2019 supplement to the third edition. Inside, you will find new material that will be informative to your estate planning strategies, such as the following:

      • Revocable Trust Provisions—See Chapter 2 for suggested new clauses for revocable trusts for both couples and single persons with minor children.
      • Older Clients; Long-Term Care—See Chapter 4 for discussion of the Supreme Judicial Courts reversal of the judgments in both the Daley and Nadeau decisions, with regard to whether home property and remainder interest held in Medicaid applicants' irrevocable trusts were available assets.
      • Planning for Disabled Beneficiaries—See Chapter 5 for extensive revisions to an individual's will, adding new provisions for the disabled beneficiary under the will. Note, in particular, new provisions granting fiduciaries' powers.
      • Charitable Contributions—See Chapter 6 for a practice note discussing how the 2017 Tax Act impacts charitable giving through an estate.

      We at MCLE trust that you will find this updated material useful in your estate planning practice and in your law library.

      Cordially,

      Maryanne G. Jensen, Esq., MCLE Director of Publications

    • Update: January 2017

      Dear Subscriber:

      Thank you for choosing to keep your copy of Drafting Estate Plans current with this 2017 supplement to the third edition. Inside, you will find new material that will be informative to your estate planning strategies, such as the following:

      • The Nontaxable Estate—See Chapter 2 for a practice tip on naming beneficiaries and more remote descendants in the will, and the MUPC's position on "negative will" provisions to pass through a testamentary instrument.
      • The Taxable or Potentially Taxable Estate—See Chapter 3 for information on the impact of the "deceased spouse unused exclusion amount" (DSUE) and its portability, along with tips on using the DSUE as a planning tool.
      • Older Clients and Long-Term Care Considerations—See Chapter 4 for a discussion of several recent cases challenging the precedent established by Cohen v. Commissioner of the Division of Medical Assistance, 423 Mass 399 (1996), that properly drafted irrevocable trusts are not assets of a Medicaid applicant.
      • Planning Bequests for Grandchildren—See Chapter 8 for two examples illustrating scenarios of gifting to grandchildren where such gifts are not subject to the generation-skipping tax.
      • Retirement Planning—See Chapter 10, which includes practice tips regarding the "qualified charitable distribution" (QCD), which allows individuals older than 70.5 years to give to a charity directly from a retirement account without treating the distribution as taxable income.

      We at MCLE trust that you will find this updated material useful in your estate planning practice and in your law library.

      Cordially,

      Maryanne G. Jensen, Esq., MCLE Director of Publications

    • Update: December 2014

      Dear Subscriber:

      Thank you for updating your reference library with the 2015 edition of Drafting Estate Plans. Inside, you will find new material that will be informative to your estate planning strategies, such as the following:

      • A completely revised Revocable Trust for Single Person with Minor Children (See text of Chapter 2 and new trust at Exhibit 2E)
      • A new discussion of marital deduction and estate tax exemption amount/tax shelter planning and related drafting techniques (See Chapter 3)
      • Information on dual purposes of effective marital deduction and exemption amount (See Chapter 3).
      • Information on the special durable power of attorney for matters concerning education (See Chapter 5 and Exhibit 5O).
      • Updated discussion of tax implications surrounding retirement planning (See Chapter 10).

      We at MCLE trust that you will find this updated material useful in your estate planning practice and in your law library.

      Cordially,

      Maryanne G. Jensen, Esq., MCLE Director of Publications

  • Table of Contents

    Table of Contents

    expand all
    Chapter 2 expand

    Exhibit 2A

    - Appointment Confirmation Letter Buy Form

    Exhibit 2AA

    - Estate Plan Diagram Buy Form

    Exhibit 2B

    - Questionnaire Buy Form

    Exhibit 2BB

    - Beneficiary Designation Form Buy Form

    Exhibit 2C

    - Fee Agreement Buy Form

    Exhibit 2D

    - Fill-In Sheet Buy Form

    Exhibit 2E

    - Revocable Trust for Single Person with Minor Children Buy Form

    Exhibit 2F

    - Reciprocal Will Buy Form

    Exhibit 2G

    - Revocable Trust for Couple with Minor Children Buy Form

    Exhibit 2H

    - Durable Power of Attorney Buy Form

    Exhibit 2I

    - Health Care Proxy Buy Form

    Exhibit 2J

    - Advance Directive Buy Form

    Exhibit 2K

    - HIPAA Information Release Form Buy Form

    Exhibit 2L

    - Release of Electronically Stored Information Buy Form

    Exhibit 2M

    - Declaration of Homestead Buy Form

    Exhibit 2N

    - Synopsis Letter Buy Form

    Exhibit 2O

    - Executive Summary Buy Form

    Exhibit 2P

    - Closing Letter Buy Form

    Exhibit 2Q

    - Virtual Asset Instruction Letter Buy Form

    Exhibit 2R

    - Letter Enclosing Virtual Asset Instruction Letter Buy Form

    Exhibit 2S

    - Sample Reminder Letter Buy Form

    Exhibit 2T

    - Will for Married Couple with Adult Children Buy Form

    Exhibit 2U

    - Will for Married Couple Without Children Buy Form

    Exhibit 2V

    - Will (Pourover) for Single Person with Minor Children Buy Form

    Exhibit 2W

    - Will for Single Person with Adult Children Buy Form

    Exhibit 2X

    - Will for Single Person Without Children Buy Form

    Exhibit 2Y

    - Parental Appointment of Guardian Buy Form

    Exhibit 2Z

    - Delegation of Parental Powers Buy Form
    Chapter 3 expand

    The Married Couple with a Taxable or Potentially Taxable Estate

    Buy Chapter

    Exhibit 3A

    - Estate Planning Questionnaire Buy Form

    Exhibit 3B

    - Jim Bond’s Trust Buy Form

    Exhibit 3C

    - Jim Bond’s Will Buy Form

    Exhibit 3D

    - Jim Bond’s Durable Power of Attorney Buy Form

    Exhibit 3E

    - Jim Bond’s Health Care Proxy Buy Form

    Exhibit 3F

    - Bond Family Life Insurance Trust No. 1 Buy Form

    Exhibit 3G

    - Bond Children’s Gift Trust Buy Form
    Chapter 4 expand

    Older Clients and Long-Term Care

    Buy Chapter
    Eric R. Oalican, Esq., Oalican Law Group LLC

    Exhibit 4A

    - Sample Deed with Life Estate Buy Form

    Exhibit 4B

    - Calculating the Value of a Life Estate or Remainder Interest in Real Estate Buy Form

    Exhibit 4C

    - Will with Testamentary Trust Buy Form

    Exhibit 4D

    - Power of Attorney with Medicaid Planning Provisions Buy Form

    Exhibit 4E

    - Health Care Proxy Buy Form
    Chapter 5 expand

    Exhibit 5A

    - Client Questionnaire Buy Form

    Exhibit 5B

    - Cover Letter to Clients with Drafts Buy Form

    Exhibit 5C

    - Darren’s Will Buy Form

    Exhibit 5D

    - Jill’s Will Buy Form

    Exhibit 5E

    - General Durable Power of Attorney of Darren Smith Buy Form

    Exhibit 5F

    - General Durable Power of Attorney of Jill Smith Buy Form

    Exhibit 5G

    - Health Care Proxy of Darren Smith Buy Form

    Exhibit 5H

    - Health Care Proxy of Jill Smith Buy Form

    Exhibit 5I

    - Darren Smith’s HIPAA Release Buy Form

    Exhibit 5J

    - Jill Smith’s HIPAA Release Buy Form

    Exhibit 5K

    - The Sara Smith Supplemental Needs Trust Buy Form

    Exhibit 5L

    - The Sara Smith (d)(4)(A) Trust Buy Form

    Exhibit 5M

    - Sara Smith’s Special Durable Power of Attorney for Matters Concerning Education Buy Form

    Exhibit 5N

    - The Sara Smith Supplemental Needs and (d)(4)(A) Trusts Trustee Instructions Buy Form
    Chapter 6 expand

    Making Charitable Contributions

    Buy Chapter
    Chapter 7 expand

    Exhibit 7A

    - Client Questionnaire Buy Form

    Exhibit 7B

    - Will Buy Form

    Exhibit 7C

    - Durable Power of Attorney Buy Form

    Exhibit 7D

    - Health-Care Proxy Buy Form

    Exhibit 7E

    - Living Will Buy Form

    Exhibit 7F

    - Trust Buy Form

    Exhibit 7G

    - Delaware LLC Agreement Buy Form

    Exhibit 7H

    - Massachusetts Single-Member LLC Agreement Buy Form

    Exhibit 7I

    - Flowcharts Buy Form

    Exhibit 7J

    - HIPAA Authorization Buy Form
    Chapter 8 expand

    Exhibit 8A

    - Language for Revocable Inter Vivos Trust Where Will Has Pourover Buy Form

    Exhibit 8B

    - Language in Will for Reverse QTIP Election Buy Form
    Chapter 9 expand

    Exhibit 9A

    - Waiver of Will Buy Form

    Exhibit 9B

    - Life Insurance Buy Form

    Exhibit 9C

    - Jointly Held Real Property Buy Form

    Exhibit 9D

    - Jointly Held Accounts Buy Form

    Exhibit 9E

    - Power of Appointment Buy Form

    Exhibit 9F

    - Bibliography Buy Form
    Chapter 10 expand

    Exhibit 10A

    - Uniform Lifetime Table Buy Form

    Exhibit 10B

    - Single Life Table Publication 590 Buy Form

    Exhibit 10C

    - Sample Beneficiary Designation Attachment Buy Form

    Exhibit 10D

    - Sample Administrative Provisions for Trust Named as the Beneficiary of a Retirement Plan Buy Form

    Exhibit 10E

    - Sample Conduit Trust Provision Buy Form
  • Editors & Authors
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